The Influence Of Housing Provident Fund Credit To The Housing Demand Of The Urban Residents In China

Along with the improvement of housing accumulation fund system and the increasing scale of accumulation fund loan, the loan of housing accumulation fund policy has gradually become one of the ways of the cities in regulating the real estate market, reflecting the impact on house demanding of accumulation fund loan.Through analyzing the influence of the three basic elements of accumulation fund loan to the housing demand, we concluded that:(1)the bigger the differentials between the accumulation fund loan interest rate and commercial housing loan interest rate, the greater can the accumulation fund loan influent the the housing demand;(2)the more the accumulation fund loan cover the total value of housing, the greater can the accumulation fund loan influent the the housing demand;(3)this influence also depend on the structure of housing market.Through the model analyzing, we found that accumulation fund loan can lower the housing costs, the more the accumulation fund loan amount is, the more consumers can save purchasing cost, the greater the increase in the demand for housing is; the higher the accumulation fund loan interest rate, less housing costs falling, the lower the increase in the demand for housing is.Through the empirical analyzing, we found that the influence of accumulation housing accumulation fund loan interest rate’s on housing demand is negative, but not significantly. And every housing accumulation fund loans effectively stimulated the housing needs of urban residents. At the same time, we found that accumulation fund loan have smaller influence to the housing demand in the Eastern region than the national average.